Billionaires and Stealth Politics

Donald Trump appointed several billionaires and multimillionaires to high-level positions and pursued billionaire-friendly policies, such as cutting corporate income taxes, which contradicted his campaign rhetoric and promises to the working class. This has had serious consequences for democracy in the United States, as billionaires have chosen to engage in "stealth politics" to influence public policy, making large contributions to political parties and policy-focused causes, leading policy-advocacy organizations, holding political fundraisers, and bundling others' contributions. This makes their influence unequal, unaccountable, and unchallengeable by the American people. The book closes with remedies citizens can pursue to make wealthy Americans more politically accountable, such as public financing of political campaigns and easier voting procedures, and notes the broader types of reforms needed to increase political equality and reinvigorate majoritarian democracy.

Format: Paperback / softback
Length: 224 pages
Publication date: 03 December 2018
Publisher: The University of Chicago Press

In 2016, when millions of Americans voted for Donald Trump, many believed his claims that personal wealth would free him from wealthy donors and allow him to "drain the swamp." However, Trump's actions contradicted his campaign rhetoric. He appointed several billionaires and multimillionaires to high-level positions and pursued billionaire-friendly policies, such as cutting corporate income taxes. This change from his fiery campaign rhetoric and promises to the working class raises several questions.

According to Benjamin I. Page, Jason Seawright, and Matthew J. Lacombe, the widening gap between the wealthiest and the rest of us has led to the increased influence of billionaires in politics. While political contributions offer a window into their influence, they do not provide a complete picture of their policy preferences and political actions. Billionaires engage in "stealth politics," which involves influencing public policy without engaging in public discourse. They make large contributions to political parties and policy-focused causes, lead policy-advocacy organizations, hold political fundraisers, and bundle others' contributions. This means that their influence is unequal, largely unaccountable to and unchallengeable by the American people.

Stealth politics makes it difficult for ordinary citizens to know what billionaires are doing or mobilize against it. The book concludes with remedies that citizens can pursue to make wealthy Americans more politically accountable. These remedies include increasing transparency in political contributions, promoting public financing of elections, and enacting laws to limit the influence of money in politics.

In conclusion, the change from Donald Trump's campaign rhetoric to his actions regarding the appointment of billionaires and the pursuit of billionaire-friendly policies raises concerns about the influence of wealth in politics. Stealth politics makes it difficult for ordinary citizens to know what billionaires are doing or mobilize against it. Remedies such as increasing transparency, promoting public financing, and enacting laws to limit the influence of money in politics can help to address this issue and ensure that the American political system is more equitable and representative of the American people.

Weight: 366g
Dimension: 226 x 162 x 13 (mm)
ISBN-13: 9780226586120